Reflecting persistent geopolitical worries, the bullion market witnessed a downward trend in Tuesday’s early trade as December expiry gold futures dropped Rs 492 to reach an early low of Rs 1,42,581 per 10 grams relative to the last close of Rs 1,43,073 on the Multi Commodity Exchange (MCX), while December 4 expiry silver futures saw a steep decline of Rs 2,238 to a low of Rs 1,95,793 per kilogram from its previous close. Explaining the market movement, Ponmudi R, CEO of Enrich Money, pointed out that MCX gold opened with a gap-down near Rs 142,580 and trades around Rs 142,900, down by 0.12 per cent, managing to recover the majority of its opening losses even though it remains just beneath the Rs 143,000 mark. In tandem with the futures trajectory, retail prices for precious metals declined domestically, and according to the latest figures on bullion.co.in, the retail rate for 24 karat gold today is Rs 1,43,170 per 10 grams, 22 karat gold is priced at Rs 1,31,239 per 10 grams, 20 karat gold stands at Rs 1,19,308 per 10 grams, and 18 karat gold is available at Rs 1,07,378 per 10 grams.
